When might you be due a tax refund?
HMRC has issued helpful guidance that explains when you might be due a tax refund and how to make a claim. According to HMRC you may be able to claim a refund if you: are employed and had too
Category: Income Tax
When do you pay tax on lodger’s rents?
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home within certain limits to pay no tax on the lodger’s rents. The limit increased to a generous
Child Benefit claw-back
The High Income Child Benefit charge came into force in January 2013 and applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back
Are you making money from a hobby?
The 'badges of trade' tests whilst not conclusive are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side line to a hobby.
Late filing of self-assessment tax returns
Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2018 even if
Let property disclosure campaign
Landlords that receive letting income should notify HMRC by 5 October after the end of the tax year for which you start to receive that income. So, for the 2017-18 tax year that has just ended, HMRC
Online access to personal tax account
HMRC has issued an update of what can be dealt with by accessing and using a personal tax account (PTA). The PTA works like an online bank account to allow taxpayers to review all their details in
Childcare voucher scheme extended
The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under 12 on 14 February 2018. The new scheme allows working parents to
Marriage allowance still time to apply
The marriage allowance is available to married couples and those in a civil partnership, where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate threshold for income
Claiming legal and financial costs
The self-employed are often concerned as to whether an expense is allowable for tax purposes. As a general rule, the self-employed can deduct running costs of the business when working out their